According a Cox Automotive report, the average transaction price for a GMC Yukon in the three months from January 2023 until the end of March 2023 stood at $82,475, an 9.0 percent increase year-over-year. Meanwhile, the Yukon XL’s ATP rose by 9.5 percent to $86,073 over the same period. These figures are noticeable jumps compared to Q4 2022 figures, where the ATP of Big Red’s full-size SUV stood at $77,935. Despite this positive development, sales of the Yukon fell more than 13 percent to 10,471 units in Q1 2023 compared to the previous quarter.
Yukon sales stood in stark contrast with GMC sales, which increased more than seven percent from 121,437 units in Q1 2022 to 130,608 units in Q1 2023.
Sales Results - Q1 2023 - USA - GMC
|MODEL||Q1 2023 / Q1 2022||Q1 2023||Q1 2022|
|HUMMER EV PICKUP||-97.97%||2||99|
Three GMC models posted impressive jumps in sales, with the GMC Acadia boasting a 71 percent increase to 15,945 units. Next up was the GMC Yukon, which posted a 63 percent jump to 19,723 units sold in Q1 2023. Rounding out the top three finishers was the GMC Savana, which posted a 61 percent increase in sales to 4,796 units. Notably, the GMC Hummer EV only sold two units over the course of the first three months of 2023.
Overall, total GM Q1 2023 sales in the United States – which include Chevy, Buick, GMC and Cadillac – increased more than 17 percent to 599,187 units. That’s a noticeable improvement over GM Q1 2022 sales of 509,108 units.
In contrast, GMC incentive spending fell more than 17 percent from the same time period last year. It was a similar scenario over at Cadillac, with incentive spending averaging $2,800 per vehicle, and down more than 27 percent from Q1 2022 figures. Meanwhile, Chevy and Buick incentive spending both moderately rose to $1,846 and $2,096 per vehicle, respectively.
The average incentive spending across all four of GM brands in the first quarter of this year stood at $1,908 per vehicle.